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Physical rubber prices extend decline in new week

08 May 2012 Evaluate

Physical rubber prices extended their decline in the new week and closed lower on Monday. The weakness in the international and domestic futures weighed on the market sentiments. In Japan, Tokyo rubber futures dropped over 3 per cent on concerns that Europe's debt problems could hurt the demand further.

Spot prices for RSS-4 variety closed at Rs 194/kg compared to its previous closing of Rs 195/kg; while RSS-5 variety closed at Rs 192/kg compared to its previous closing of Rs 194/kg.

In futures market, the contract of RSS-4 for May delivery closed at Rs 190.51 compared to its previous closing of Rs 191.44, while the contract of June delivery closed at Rs 196.60 compared to its previous closing of Rs 197.35 on the National Multi Commodity Exchange.

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